Episode 35: Negotiating Salaries 101
Guest: Jim Hopkinson
We’ve all been there where we’ve felt like we’ve rocked an interview and then dreaded question comes up. “What is your current salary?” Or even worse, “what are your salary expectations for this position?” It’s common for us to hesitate in answering that awful question because on one hand we don’t want to throw out a number that is too high (and risk losing our chance at the position) and, on the other hand, we don’t want to low-ball ourselves.
My guest this week is Jim Hopkinson, and he has come to our rescue! A speaker, writer, and teacher, he helps ambitious professionals overcome their fear of negotiating their salary. Jim has helped a lot of people push past the discomfort of asking for what their worth, and his number one advice is research. Understanding what your worth is the key to being able to ask for more. One way to determine what the market value is for your position and experience is visiting websites like salary.com, payscale.com, and glassdoor.com. He also recommends talking to your internal network. Once you have all your research, you can put it into a report and provide it to the company looking to hire you or presenting it to your current boss. The more research you do, the stronger your case.
To jump back to the dreaded interview question, Jim recommends countering with: “Oh I’m sorry, my current employment contract doesn’t allow me to reveal that information. It’s private company information. What kind of range did you have in mind?” By turning it around, you’re opening up the conversation and allowing room for negotiation!
If you want to learn more after this episode, visit salarytutor.com/fastclass for a 7-day free email class that will teach you how to negotiate your salary. If you liked this episode be sure to share it with those you think might find this valuable. Also, head over to iTunes and write a quick review if you liked what you heard. Lastly, thanks for listening!